If you are looking at buying real estate in Thailand then look for a good attorney in Bangkok. You need to search for a good attorney in Bangkok as has been highlighted how attorneys are not always attorneys in Thailand. This adds another problem to property which we highlight here!
1. Never us the attorneys of the property developer in Thailand much like anywhere else. They will tell you that the contract is standard – there is no standard contract for property in Thailand. Always find you own attorney when dealing with property in Thailand. Let me give you an example of what can go wrong. A few years ago in Samui many foreigners bought property in Koh Samui without looking for an attorney in Samui. They had been told everything was standard, signed the documents and paid the price. A year later the Thai Land Department wondered why there had been more Land Titles than land in Samui. Only to find out that the land being used for the property development was government owned land. The foreigners got arrested and lost their homes.
2. Many expats and foreigners are approached by an agent for the developer. They make verbal agreements and the clients think that everything is understood. The agent however is only a commissioned agent and cannot bind the developer so what you sign might be in Thai and you might be under the impression that what you spoke about is in the contract when it is not. Let me give you a common problem. Someone tells you that the rooms are all 10meter X 10 meters only to find out that it is not the internal measurements but the external measurements so the rooms are actually much smaller than what you paid for. Always do a due diligence on the property before you buy. This will always ensure that you get what you paid for.
3. Deal only with very reputable development companies. Thailand is full of half completed projects that will never see the time of day. Once the company goes under then you have lost what you put into the agreement.
Again, ensure you find a qualified attorney in Thailand who speak good English or better yet and expat attorney who has been in the property market for years. Speak to any of our attorneys in Thailand for more information.
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